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Concession

A grant of a tract of land made by a government or other controlling authority in return for stipulated services or a promise that the land will be used for a specific purpose. In some cases this will mean the exclusive right to market some product like fuel or food on a turnpike. In the U.S. it may relate to leased space in a rest area. In some instances, both inside and outside the U.S. the concession is the tolled facility itself and a private company operates the facility for a profit under agreed upon guidelines or payments.